Both the STOXX 50 and the STOXX 600 fell 1.5% on Friday, tracking a global equity sell-off as signs of credit stress among US regional banks reignited concerns about credit quality and the potential spillover to other sectors. Banking and financial stocks came under heavy pressure, with notable declines in Intermediate Capital (-6.5%), Banco de Sabadell (-7.1%), Deutsche Bank (-6.3%), Barclays (-5.3%), Standard Chartered (-4.2%) and Société Générale (-4.5%).
Meanwhile, escalating trade tensions between China and the US further weighed on sentiment. Beijing accused Washington of stoking panic over its rare-earth export controls. On the earnings front, EssilorLuxottica surged more than 9% to top the STOXX 600 after reporting record Q3 sales.
In contrast, Volvo dropped 4.8% after warning that "difficult market conditions in North and South America" had weighed on sales. On the week, the STOXX 50 is up 2.2% and the STOXX 600 gained 1.3% so far.
Source: Trading Economics
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